Zacks Research Has Positive Estimate for NSC FY2024 Earnings

Norfolk Southern Co. (NYSE:NSC) – Research analysts at Zacks Research raised their FY2024 earnings estimates for shares of Norfolk Southern in a note issued to investors on Monday, November 11th. Zacks Research analyst R. Department now anticipates that the railroad operator will earn $11.74 per share for the year, up from their prior estimate of $11.67. The consensus estimate for Norfolk Southern’s current full-year earnings is $11.82 per share.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company posted $2.65 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis.

Several other equities analysts have also weighed in on the stock. UBS Group raised their price objective on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Stephens restated an “equal weight” rating and set a $263.00 target price on shares of Norfolk Southern in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price target on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen lifted their target price on Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Price Performance

NYSE:NSC opened at $269.26 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The business’s 50-day moving average price is $252.33 and its 200 day moving average price is $238.24. Norfolk Southern has a 52-week low of $201.44 and a 52-week high of $277.60. The firm has a market cap of $60.92 billion, a P/E ratio of 25.28, a PEG ratio of 2.54 and a beta of 1.30.

Institutional Investors Weigh In On Norfolk Southern

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Norfolk Southern by 5.9% in the first quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock worth $5,001,490,000 after buying an additional 1,088,072 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Norfolk Southern by 2.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,986,180 shares of the railroad operator’s stock worth $1,525,699,000 after acquiring an additional 124,362 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Norfolk Southern by 1.0% during the second quarter. EdgePoint Investment Group Inc. now owns 3,789,436 shares of the railroad operator’s stock valued at $813,554,000 after acquiring an additional 37,386 shares during the period. American Century Companies Inc. grew its position in shares of Norfolk Southern by 17.3% in the second quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock valued at $720,626,000 after purchasing an additional 496,088 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its stake in shares of Norfolk Southern by 18,831.2% in the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after purchasing an additional 3,280,579 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Sameh Fahmy acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sameh Fahmy purchased 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.